Question:

Can insurance companies be trusted?

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Just wondering whether people view their insurance company positively or negatively. And why.

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  1. Insurance is heavily regulated by both state and federal laws.  The insurance companies MUST do what they say they will or the government will come down hard.  What people need to remember is that insurance is a business and the contracts and premium are set to make a profit.  Read your policy carefully to be sure you know exactly what you bought.  Consider the amount of premium and decide if you need this coverage.  

    I view insurance companies positively, but I don't always buy what they are selling.


  2. I think MOST insurance companies are reputable companies and handle things in a legal and ethical manner. The problem is.....the national media only covers them when they've screwed up or made a poor decision. You'll never hear about how well someone was treated by their insurance company on the news becuase it's boring. Insurance gets a bad rap because the media outlets drag them through the mud whenever they make a mistake. The industry as a whole handles things very well.

  3. No.

    Negatively.

    Based on what I heard about them on television.

  4. Trusted to do what?

  5. An opened end question indeed.

    Insurance companies can be trusted to do what their charters & company missions state they will do:  pay claims, in a professional and timely matter.  Needless to say, the above is open to various forms of interpretation.

    99% do just that.  Unfortunately, it is the remaining 1% ruin the reputation of the industry as a whole.

    Customer service, explaining policies and procedures in a clear, concise manner is sometimes another story.  Yet, the bottom line:  you want them to pay your claim(s).

  6. The well know better companies . The Fly by night ones aren't really recommended.

  7. yes!!!  look at there ratings.  Easy to look up.

    A.M. Best  

    Standard & Poor's

    Moody's Investor Services  

    Comdex

  8. I'm very happy with State Farm

  9. NO LARGE CORPORATION CAN BE TRUSTED!

    Sorry you had to come to yahoo answers to figure that out.
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